CHICAGO TRUST Co NA Decreases Stock Holdings in 3M (NYSE:MMM)

CHICAGO TRUST Co NA lessened its holdings in 3M (NYSE:MMM) by 5.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,352 shares of the conglomerate’s stock after selling 631 shares during the quarter. CHICAGO TRUST Co NA’s holdings in 3M were worth $1,465,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MMM. CVA Family Office LLC raised its holdings in 3M by 1.9% during the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock worth $571,000 after purchasing an additional 79 shares in the last quarter. Harbour Investments Inc. boosted its stake in 3M by 0.8% in the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock valued at $1,443,000 after acquiring an additional 81 shares in the last quarter. KMG Fiduciary Partners LLC increased its position in shares of 3M by 0.5% during the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock worth $2,213,000 after purchasing an additional 84 shares in the last quarter. TCV Trust & Wealth Management Inc. lifted its holdings in shares of 3M by 1.3% in the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock valued at $884,000 after purchasing an additional 84 shares during the last quarter. Finally, Weatherly Asset Management L. P. boosted its position in shares of 3M by 3.3% in the 3rd quarter. Weatherly Asset Management L. P. now owns 2,730 shares of the conglomerate’s stock valued at $373,000 after purchasing an additional 86 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MMM shares. Royal Bank of Canada decreased their price target on shares of 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a research note on Friday, January 3rd. Wells Fargo & Company raised their target price on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Barclays lowered their target price on shares of 3M from $165.00 to $161.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a report on Tuesday, October 22nd. Finally, UBS Group raised 3M from a “neutral” rating to a “buy” rating and raised their price target for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.33.

3M Stock Up 0.9 %

Shares of NYSE MMM traded up $1.13 during trading on Monday, reaching $132.34. 909,363 shares of the stock were exchanged, compared to its average volume of 3,170,374. The company has a market capitalization of $72.07 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. The business’s 50-day moving average price is $130.51 and its 200 day moving average price is $126.65. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. 3M has a twelve month low of $75.40 and a twelve month high of $141.34.

3M (NYSE:MMM) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period in the prior year, the company posted $2.68 EPS. 3M’s quarterly revenue was down 24.3% on a year-over-year basis. As a group, equities analysts forecast that 3M will post 7.27 EPS for the current fiscal year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.12%. 3M’s dividend payout ratio (DPR) is 35.35%.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.